VOL. XLVII

No 12

22-March-2004

TURKEY

Turkey Agrees To Reform Energy Market Under World Bank Program

Turkey will implement an energy strategy that will allow the World Bank to release a $375mn tranche of an economic reform loan (ERL) approved in May 2000. Release of the World Bank credit, part of a $759.6mn loan, had been blocked due to bureaucratic snags in the Turkish government. However, Turkey agreed before the loans deadline that it would implement a number of reforms to secure the release...